Used in organic synthesis as a key intermediate for the preparation of various chromene derivatives, which are valuable in pharmaceutical research. It is particularly employed in the development of compounds with potential anti-inflammatory, antimicrobial, and anticancer properties. Additionally, it serves as a precursor in the synthesis of fluorescent dyes and probes for biological imaging, aiding in the study of cellular processes. Its role in creating heterocyclic compounds also makes it significant in material science for designing advanced organic materials.